Union Finance Minister Nirmala Sitharaman on Sunday cited a reaction by billionaire Elon Musk to highlight India’s growing economic strength, urging the Opposition to recognise the country’s rising global influence.
Sitharaman was responding to Musk’s reaction to an X post that featured International Monetary Fund (IMF) data on the “Top 10 contributors to global real GDP growth (2026)”. The post showed that India is projected to be the second-largest contributor to global GDP growth, behind China.
On January 31, Musk reposted a chart shared by World of Statistics and commented that “the balance of power is changing”. The chart, reportedly based on IMF data, indicated that China accounts for 26 per cent of global GDP growth, while India contributes 17 per cent.
Referring to the post during an interaction with university students at Parliament after presenting the Union Budget 2026–27, Sitharaman said the data reflected India’s increasing economic strength.
“India’s opposition should also understand that this is the kind of strength that India has acquired now,” she said, adding that while the gap between China and India remains, it can be bridged in the coming years.
She further noted that together, India and China contribute around 43 per cent of global GDP growth, underlining Asia’s growing role in the global economy.
Union Minister Kiren Rijiju also reacted to Musk’s post, addressing Congress leader Rahul Gandhi. Rijiju said that while criticising the government is a democratic right, India’s achievements should not be belittled.
“Do not disparage India and never belittle India’s achievement. Be a proud Indian,” Rijiju said in a post on X.
According to the International Monetary Fund, global economic growth is projected at 3.3 per cent in 2026 and 3.2 per cent in 2027. However, the IMF cautioned that risks remain tilted to the downside, citing concerns such as trade tensions, financial market volatility and uncertainties around productivity gains from artificial intelligence.
Earlier in the day, Sitharaman presented her ninth consecutive Union Budget in the Lok Sabha, outlining proposals focused on infrastructure expansion, high-speed rail corridors, freight routes, national waterways and sustainable tourism initiatives as part of a long-term development roadmap.
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